The answer is, it depends!

Games that try for realism tend to hold up poorly as time goes on, but games that have a very congruent less than real art style, not just cartoony games but all kinds of different styles, can hold up a lot better.

As well, some game art was designed to be played on CRT monitors, or at lower resolution, which gives a very different experience when played on a modern screen with a high resolution. The bluring and less discrete nature of pixels on older devices lended a lot of affordances to artists working with lower resolutions.